Twin Lakes Capital Management LLC Takes Position in Agnico Eagle Mines Limited $AEM

Twin Lakes Capital Management LLC acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 18,137 shares of the mining company’s stock, valued at approximately $2,814,000. Agnico Eagle Mines comprises approximately 1.1% of Twin Lakes Capital Management LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Agnico Eagle Mines by 1.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,266 shares of the mining company’s stock worth $893,000 after buying an additional 59 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Agnico Eagle Mines by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,284 shares of the mining company’s stock worth $2,422,000 after buying an additional 63 shares during the last quarter. Syon Capital LLC increased its holdings in shares of Agnico Eagle Mines by 1.8% in the fourth quarter. Syon Capital LLC now owns 3,675 shares of the mining company’s stock valued at $623,000 after buying an additional 65 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Agnico Eagle Mines by 1.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,289 shares of the mining company’s stock valued at $728,000 after acquiring an additional 67 shares during the last quarter. Finally, Rossby Financial LCC lifted its position in shares of Agnico Eagle Mines by 1.1% during the 4th quarter. Rossby Financial LCC now owns 7,061 shares of the mining company’s stock valued at $1,197,000 after acquiring an additional 74 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AEM shares. Canadian Imperial Bank of Commerce set a $285.00 price objective on Agnico Eagle Mines in a research note on Thursday, July 16th. ATB Cormark Capital Markets raised Agnico Eagle Mines from a “hold” rating to an “outperform” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price target on Agnico Eagle Mines from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Barclays dropped their price target on Agnico Eagle Mines from $210.00 to $188.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Finally, Bank of America cut their price objective on Agnico Eagle Mines from $302.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Agnico Eagle Mines has an average rating of “Moderate Buy” and a consensus price target of $226.00.

Agnico Eagle Mines Trading Down 4.2%

Agnico Eagle Mines stock opened at $206.41 on Friday. Agnico Eagle Mines Limited has a 52 week low of $134.38 and a 52 week high of $255.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.02 and a current ratio of 2.86. The firm has a market capitalization of $104.63 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 2.68 and a beta of 0.60. The company has a 50 day moving average price of $165.50 and a 200 day moving average price of $187.44.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its earnings results on Wednesday, July 29th. The mining company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.16. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.78 billion. Agnico Eagle Mines had a net margin of 40.44% and a return on equity of 22.04%. The company’s revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 EPS. Research analysts forecast that Agnico Eagle Mines Limited will post 11.56 EPS for the current year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.